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Yiwu in East China's Zhejiang revealed 10 policies on April 29 to improve the city's business environment.
Yiwu will establish a 24-hour smart service hall and implement integrated reforms to ensure that companies can complete all necessary procedures with a single application.
Yiwu will leverage the "One Network for Approval" platform and set up "overseas service stations" in 55 countries and regions to enable remote processing of 446 different types of applications without the need for physical presence.
Yiwu will enhance the "Foreign Business Card" program to meet the daily needs of foreigners in Yiwu, simplify the process of opening personal settlement accounts, and enable foreign individuals to use mobile payments throughout Yiwu.
Yiwu will increase the amount of credit available and provide over 60 billion yuan ($8.68 billion) in new loans and more than 20 billion yuan in loans for small and micro enterprises.
Yiwu will tailor policies to attract more talent and provide subsidies ranging from 248,000 to 966,000 yuan to qualified talent that comes to work in Yiwu.
Yiwu will establish a green channel for key projects and implement a commitment system for enterprise investment projects to ensure quick implementation.
Yiwu will continue to reduce taxes and fees for market entities by more than 7.5 billion yuan per year.
Yiwu will establish the first county-level international commercial dispute settlement and mediation platform in China to provide efficient and diverse dispute resolution services.
Yiwu will promote a flexible enforcement system that emphasizes public welfare over fines and focuses on minor violations.
Yiwu will organize over 25 delegations and more than 1,000 domestic and foreign companies to participate in exhibitions.